Trump this spring imposed a 25% tariff on cars and car parts, including those from Canada. But certain cars and parts qualify for preferential treatment under the USMCA, meaning the 25% tariff applies only to the non-U.S. content of the automobile or part.

President Donald Trump said the U.S. will increase its tariff rate on Canadian goods to 35% starting next month.In a letter to Canada’s Prime Minister Mark Carney posted on Trump’s Truth Social account late Thursday,

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

Wall Street braced for a lower open on Friday as President Donald Trump cranked up his tariff assault on Canada, deepening uncertainty around Washington's trade agenda. Trump on Thursday announced a 35% tariff on Canadian imports,

Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”

President Donald Trump has launched a wave of Section 232 tariffs and investigations, seeking to protect U.S. national security. These nine graphics show the scale and structure of U.S. reliance on

The dollar edged up across the board on Friday as U.S. President Donald Trump's ramped-up tariffs on Canada and other trading partners sparked a flight to safety. Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1.

Latest news and live updates as Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.